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Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2018
Accounting Policies [Abstract] |
Schedule of variable interest entities | The VIEs in Brazil and Mexico comprise several not-for-profit foundations that have insignificant revenues and operating expenses. Selected Consolidated Statements of Operations information for VIEs was as follows, net of the charges related to the above-described contractual arrangements:
For the three months ended March 31, | 2018 |  | 2017
Selected Statements of Operations information: |  |  |
Revenues, by segment: |  |  |
Brazil | $ | — |  |  | $ | — |
Mexico | — |  |  | — |
Andean & Iberian | 55,036 |  |  | 48,311 |
Central America & U.S. Campuses | 15,140 |  |  | 15,375 |
EMEAA | 61,196 |  |  | 66,213 |
Revenues | 131,372 |  |  | 129,899 |
Depreciation and amortization | 11,023 |  |  | 12,823 |
Operating (loss) income, by segment: |  |  |
Brazil | (18 | ) |  | (21 | )
Mexico | (157 | ) |  | (191 | )
Andean & Iberian | (39,262 | ) |  | (41,923 | )
Central America & U.S. Campuses | (305 | ) |  | 1,055 |
EMEAA | 12,771 |  |  | 11,887 |
Operating loss | (26,971 | ) |  | (29,193 | )
Net loss | (22,468 | ) |  | (20,112 | )
Net loss attributable to Laureate Education, Inc. | (22,728 | ) |  | (20,936 | )
The following table reconciles the Net income (loss) attributable to Laureate Education, Inc. as presented in the table above, to the amounts in our Consolidated Statements of Operations:
For the three months ended March 31, | 2018 |  | 2017
Net income (loss) attributable to Laureate Education, Inc.: |  |  |
Variable interest entities | $ | (22,728 | ) |  | $ | (20,936 | )
Other operations | (30,590 | ) |  | 30,707 |
Corporate and eliminations | 222,197 |  |  | (132,578 | )
Net income (loss) attributable to Laureate Education, Inc. | $ | 168,879 |  |  | $ | (122,807 | )
The following table presents selected assets and liabilities of the consolidated VIEs. Except for Goodwill, the assets in the table below include the assets that can be used only to settle the obligations for the VIEs. The liabilities in the table are liabilities for which the creditors of the VIEs do not have recourse to the general credit of Laureate. Selected Consolidated Balance Sheet amounts for these VIEs were as follows:
| March 31, 2018 |  | December 31, 2017
| VIE |  | Consolidated |  | VIE |  | Consolidated
Balance Sheets data: |  |  |  |  |  |  |
Cash and cash equivalents | $ | 199,609 |  |  | $ | 479,011 |  |  | $ | 231,940 |  |  | $ | 468,733 |
Current assets held for sale | — |  |  | 57,990 |  |  | 22,246 |  |  | 102,623 |
Other current assets | 338,271 |  |  | 956,214 |  |  | 153,129 |  |  | 717,498 |
Total current assets | 537,880 |  |  | 1,493,215 |  |  | 407,315 |  |  | 1,288,854 |
Goodwill | 198,683 |  |  | 1,942,335 |  |  | 192,230 |  |  | 1,954,666 |
Tradenames | 96,949 |  |  | 1,280,617 |  |  | 110,577 |  |  | 1,295,614 |
Other intangible assets, net | — |  |  | 34,095 |  |  | — |  |  | 35,927 |
Long-term assets held for sale | — |  |  | 311,231 |  |  | 185,139 |  |  | 392,391 |
Other long-term assets | 541,967 |  |  | 2,455,265 |  |  | 524,318 |  |  | 2,424,271 |
Total assets | 1,375,479 |  |  | 7,516,758 |  |  | 1,419,579 |  |  | 7,391,723 |
Current liabilities held for sale | — |  |  | 103,340 |  |  | 64,895 |  |  | 176,719 |
Other current liabilities | 425,234 |  |  | 1,488,426 |  |  | 276,252 |  |  | 1,198,030 |
Long-term liabilities held for sale | — |  |  | 86,853 |  |  | 41,732 |  |  | 94,407 |
Long-term debt and other long-term liabilities | 71,185 |  |  | 3,608,491 |  |  | 66,682 |  |  | 3,921,288 |
Total liabilities | 496,419 |  |  | 5,287,110 |  |  | 449,561 |  |  | 5,390,444 |
Total stockholders' equity | 879,060 |  |  | 1,767,473 |  |  | 970,018 |  |  | 1,587,282 |
Total stockholders' equity attributable to Laureate Education, Inc. | 878,689 |  |  | 1,772,924 |  |  | 948,966 |  |  | 1,575,164 |
Schedule of balances of the allowance for doubtful accounts | The reconciliations of the beginning and ending balances of the Allowance for doubtful accounts were as follows:
For the three months ended March 31, | 2018 |  | 2017
Balance at beginning of period | $ | 204,252 |  |  | $ | 196,270 |
Additions: charges to bad debt expense | 22,153 |  |  | 16,502 |
Additions: charges to other accounts (a) | — |  |  | 503 |
Deductions (b) | (24,883 | ) |  | (17,571 | )
Balance at end of period | $ | 201,522 |  |  | $ | 195,704 |
(a) Charges to other accounts includes reclassifications. (b) Deductions includes accounts receivable written off against the allowance (net of recoveries), reclassifications, and foreign currency translation. The beginning and ending balances of the Allowance for doubtful accounts include the current portion, as shown on the face of Consolidated Balance Sheets, in addition to the noncurrent portion that is included in Notes receivable, net on the Consolidated Balance Sheets. Laureate’s financing receivables balances were as follows:
| March 31, 2018 |  | December 31, 2017
Financing receivables | $ | 37,411 |  |  | $ | 22,977 |
Allowance for doubtful accounts | (8,984 | ) |  | (8,411 | )
Financing receivables, net of allowances | $ | 28,427 |  |  | $ | 14,566 |
Schedule of adoption of new accounting standard update | In accordance with the requirements under Topic 606, the disclosure of the impact of adoption on our Consolidated Statement of Operations and Consolidated Balance Sheet was as follows:
| For the period ended March 31, 2018
| As Reported | Balances Without Adoption of ASC 606 | Effect of Change Higher/(Lower)
Statement of Operations data: |  |  |
Revenues | $ | 885,288 |  | $ | 878,655 |  | $ | 6,633 |
Costs and Expenses: |  |  |
Direct costs | 865,446 |  | 868,561 |  | (3,115 | )
Income tax expense | (2,532 | ) | (2,502 | ) | 30 |
Net income | 171,545 |  | 161,827 |  | 9,718 |
| As of March 31, 2018
| As Reported | Balances Without Adoption of ASC 606 | Effect of Change Higher/(Lower)
Balance Sheet data: |  |  |
Assets: |  |  |
Deferred costs, net | 67,061 |  | 62,528 |  | 4,533 |
Liabilities: |  |  |
Deferred revenue and student deposits | 675,455 |  | 682,088 |  | (6,633 | )
Deferred income taxes | 293,957 |  | 293,927 |  | 30 |
Equity: |  |  |
Accumulated deficit | (772,283 | ) | (783,419 | ) | 11,136 |

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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77990344&loc=d3e5747-111685 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=77990344&loc=SL6228884-111685 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77990344&loc=d3e5728-111685 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=77990344&loc=SL6759159-111685 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=77990344&loc=d3e5710-111685 + Details
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